Weights for the TWI

New weights for the trade-weighted index (TWI) of the Australian dollar will apply from 1 December 2014. The weights are based on the composition of Australia's merchandise goods and services trade for the 2013/14 financial year. The composition of the index has changed slightly, with the South African rand no longer included. The regions associated with the 20 currencies in the updated index accounted for around 90 per cent of Australia's trade in 2013/14. Changes in individual currency weights were generally well within +/- 1 percentage point. However, the Chinese renminbi was the key exception, with its weight increasing by around 3 percentage points. Overall, the currency rankings were fairly stable in this update, with the rankings of the top six currencies remaining unchanged from last year. See ‘TWI – Method of Calculation’ for a description of the methodology used to construct the TWI.

Weights in the Trade-weighted Index
Per cent
Weight
Currency From 1 December 2014
2 December 2013 –
28 November 2014
Chinese renminbi 27.8725 24.8504
Japanese yen 12.5093 13.1351
United States dollar 9.7650 9.7833
European euro 9.2279 9.4263
South Korean won 5.9646 5.7835
Singapore dollar 5.1525 5.4943
New Zealand dollar 3.9440 3.9687
United Kingdom pound sterling 3.5313 3.9868
Malaysian ringgit 3.4650 3.2381
Thai baht 3.2905 3.6773
Indonesian rupiah 2.6624 2.6927
Indian rupee 2.5804 3.1592
New Taiwan dollar 2.1356 2.3424
Vietnamese dong 1.6119 1.3467
Hong Kong dollar 1.4502 1.4607
Papua New Guinea kina 1.1814 1.2900
Swiss franc 1.0564 1.0403
United Arab Emirates dirham 1.0375 1.0608
Canadian dollar 0.8976 1.0374
Philippine peso 0.6640 0.6439
South African rand 0.5821

Sources: ABS; RBA